According to CoinMeta, on August 20th, 10 individuals including Yeon Tae-yong, a member of the Korean People Power Party, proposed an amendment to the Specific Financial Information Act, aiming to grant the Financial Intelligence Service (FIU) direct law enforcement powers over unregistered virtual asset service providers. Under the proposed amendment, anyone can report illegal activities to FIU. Upon receiving a report or detecting suspected violations, FIU can initiate investigations and analyses, and may then transfer the cases to or notify the investigative authorities. The proposal highlights that the current legislation lacks direct enforcement measures against unregistered operators, posing potential risks for crimes such as money laundering and illegal cross-border transfers.